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be of benefit to the health and welfare of the CITY and its citizens. <br /> Section 3. This Council further finds that the proposed <br /> economic development revenue bond financing of such facilities com- <br /> plies with the purposes and provisions of the Act. <br /> Section 4 . This Council hereby approves the proposed <br /> economic development revenue bond financing of such facilities, <br /> including (i) the form and terms of the aforementioned Loan Agree- <br /> ment; Real Estate Promissory Note to CITY from the Company; the <br /> Equipment Promissory Note to the CITY from the Company; Indenture <br /> of Trust between the CITY and St. Joseph Bank and Trust Company <br /> (the "Bank") ; Leasehold Mortgage between the Company and the CITY; <br /> Security Agreement between the Company and the CITY; the fully <br /> registered City of South Bend, Indiana, Economic Development Reve- <br /> nue Bond, Series 1985, (Automatic Equipment Project) , from the CITY <br /> to the bondholders, in the amount of Two Million Two Hundred Fifty <br /> Thousand and No/100 Dollars ($2, 250, 000 . 00) ; the fully registered <br /> City of South Bend, Indiana, Economic Development Revenue Bond, <br /> Series 1985 (Automatic Real Estate Project) , from the CITY to the <br /> bondholders, in the amount of Seven Hundred Fifty Thousand and No/100 <br /> Dollars ($750, 000 .00) ; the election under I.R.C. §103 (b) (6) attached <br /> hereto and incorporated herein by this reference (two (2) copies of <br /> which are on file in the Office of the Clerk of the CITY for public <br /> inspection) ; (ii) the issuance and sale of said Economic Development <br /> Revenue Bonds; (iii) the loan of the net proceeds of said Economic <br /> Development Revenue Bonds to the Company for the acquisition of such <br /> facilities, such loan to be evidenced by said Promissory Notes; (iv) <br /> the repayment of said loan by the Company pursuant to said Loan Agree- <br /> ment, Security Agreement, and Promissory Notes; and (v) the securing <br /> of said Security Agreement and said Indenture of Trust. <br />